The letter includes T2’s recap of the Berkshire Hathaway (BRK.A)(BRK.B) earnings report. For my money Tilson is the best source for Berkshire information bar none. He thinks Buffett is pounding the table on the attractiveness of Berkshire’s share price at current levels. Tilson makes this comment:
“Berkshire has never been stronger. Its balance sheet is awash with cash and the company has a diverse and robust collection of exceptional businesses that are collectively generating more than $1 billion per month for Buffett and Munger to allocate."
He pegs intrinsic value at $178,000 per A share with that intrinsic value growing 10% per year. If true, a share price of $120,000 sounds awfully attractive.
T2 Accredited Fund Letter to Investors-Feb 2012